The Sensex has finhally ended (provisional) at 16,876, up 435 points.
The NSE Nifty is at 5,011, up 129 points.
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(Updated at 1509hrs)
The NSE Nifty surged past the 5,000 mark but is now off the day's high. The index is now up 108 points at 4,990.
The Sensex is up 365 points at 16,805.
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(Updated at 1356 hrs)
The Sensex today opened flat at 16,444 and slipped into the negative zone almost immediately. The index touched an intra-day low of 16,405 but recovered thereafter. The Sensex has gained smartly since then and touched a high of 16,769 - up 364 points from the day's low.
The Sensex is now up 291 points (2%) at 16,732
The BSE IT and metal indices have gained 3.7% and 3.2% respectively.
Asian markets have surged following China's report of continued growth in industrial production. Indian markets seem to mirror the gains in Asian markets.
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The NSE Nifty is up 84 points at 4,966.
Sterlite has rallied 6% to Rs 852. Tata Steel and Hindalco have gained over 2.6% each to Rs 519 and Rs 130, respectively.
Tata Motors has surged 5% to Rs 623. Jaiprakash Associates, reliance infrastructure, Sun Pharma and Mahindra & Mahindra have also moved up 2-3% each.
IT stocks have advanced. Wipro has added 3.7% to Rs 616. Infosys, so far the biggest contributor to the index's rally, is up 3.2% at Rs 2,290. TCS has gained 2.6% at Rs 641.
The market breadth is failry positive. Out of 2,708 stocks traded on the BSE, 1,593 have advanced while 1,034 have declined.
Educomp Solutions has topped the value chart on the BSE with a turnover of Rs 180.05 crore, followed by Sesa Goa (Rs 99 crore), Reliance (Rs 97.80 crore), SBI (Rs 86.46 crore) and DLF (Rs 86.20 crore).
The volume chart is being led by Suzlon with trades of 7.11 million shares, followed by Unitech (5.44 million), Neyveli Lignite (5.41 million), Austral Coke (5.28 million) and Rashtriya Chemicals (4.76 million).